Exelixis (NASDAQ:EXEL) Stock Gets Price Target Increase from TD Cowen

Exelixis (NASDAQ:EXEL) had its target price upped by analysts at TD Cowen from $55.00 to $76.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. TD Cowen‘s target price suggests a potential upside of 8.15% from the company’s current price.

A number of other research analysts have also recently weighed in on EXEL. Citigroup restated a “market outperform” rating on shares of Exelixis in a report on Monday, October 19th. Wall Street Zen raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Zacks Research raised Exelixis from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Weiss Ratings raised Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $60.00 target price on shares of Exelixis in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.21.

Exelixis Trading Up 6.2%

EXEL traded up $4.07 on Friday, hitting $70.27. 2,466,067 shares of the company’s stock were exchanged, compared to its average volume of 2,575,533. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.86 and a beta of 0.47. Exelixis has a fifty-two week low of $36.00 and a fifty-two week high of $72.10. The firm has a 50-day moving average price of $59.07 and a 200-day moving average price of $50.79.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $658.70 million for the quarter, compared to the consensus estimate of $646.51 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities analysts predict that Exelixis will post 3.19 EPS for the current year.

Insider Activity at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the transaction, the director directly owned 16,079 shares in the company, valued at $862,799.14. This represents a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exelixis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC purchased a new stake in Exelixis during the third quarter valued at about $60,000. Tucker Asset Management LLC bought a new position in shares of Exelixis during the third quarter worth about $557,000. Signature Equity Partners LLC increased its holdings in shares of Exelixis by 194.0% in the 3rd quarter. Signature Equity Partners LLC now owns 4,134 shares of the biotechnology company’s stock valued at $241,000 after acquiring an additional 2,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Exelixis during the third quarter worth $1,402,000. Finally, Profund Advisors LLC boosted its stake in Exelixis by 36.0% in the third quarter. Profund Advisors LLC now owns 42,521 shares of the biotechnology company’s stock valued at $2,484,000 after acquiring an additional 11,267 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations. Exelixis reported adjusted earnings of $0.94 per share versus the $0.89 consensus estimate, while revenue rose 10.2% year over year to $658.7 million, exceeding expectations of $646.5 million. Profitability and operating cash flow also remained strong. Exelixis third-quarter earnings report
• Positive Sentiment: CABOMETYX continues to support the business. The company’s flagship cancer treatment helped drive the quarterly beat, while management highlighted continued pipeline development and plans to advance Wave 2 pivotal studies. Exelixis Q3 2026 earnings analysis
• Positive Sentiment: Zanzalintinib provides a near-term catalyst. Exelixis outlined a March 3, 2027 FDA PDUFA date, giving investors a defined timeline for a potential regulatory decision on the drug. Zanzalintinib FDA timeline
• Neutral Sentiment: Analysts raised their targets but remain cautious. Truist lifted its target to $60, RBC to $58 and Barclays to $54. All three maintained equivalent hold, sector-perform or equal-weight ratings, and each target remains below the current share price.
• Negative Sentiment: Valuation and insider activity may temper enthusiasm. The stock’s elevated valuation has prompted cautious analyst ratings, while reported insider transactions over the past six months consisted of sales and no purchases.

About Exelixis

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.